Hey all, this article is strictly opinionated. You can agree with it, you can disagree with it. But if you’ve read it, I urge you to consider it.
Let me just get straight into it: what the FUD?
I am talking about the “fear, uncertainty, doubt” (FUD) that has been surrounding DRIP for some time. According to dextool.io, the chart on BUSD/DRIP shows that the price of DRIP reached an all-time-high (ATH) of $169.46 on January 26, 2022. After that, the price began to decline, going down, down and further down. At the time of writing this article (May 12, 2022), the price is at $17.69.
That is an 89.57% drop!
According to many economists, they would define that type of price movement as a “crash”. Looking at the chart, most of the candlesticks are red. The sell pressure is insane.
Throughout these months, people have been trying to make sense of the cause of this mad sell. Why sell now? Is fear driving them? If so, what’s making them scared? Are their broader aspects of the crypto world that is triggering uncertainty? Are global events (wars, lockdowns, COVID, inflation, interest rate rises) triggering doubt and instability in traditional finance and crypto?
Many have speculated, written articles, recorded YouTube videos on it, performed fundamental and technical analysis on it. I’ve even dabbled into some of it too.
You jump into chat groups, like Telegram, Discord and others and now most of the time, there are constant questions around “why is DRIP tanking” and “is DRIP dying” and others just spreading negativity. Some who’ve tried to remain bullish on the project have warned/muted even banned those spreading FUD. I’ve been a little guilty of that myself.
Here’s the thing — I don’t want to talk about the causes and reasons of why the DRIP price has been plummeting. I’ve given up speculating. Bear markets come and go. This will one day pass. Those who’ve claimed/sold DRIP have their reward in full — whilst the rest of us have an opportunity to continue to buy/hydrate to a greater reward!
So, here’s the thing — the best way to kill FUD is not to tell people to stop FUD’ing, but to help them understand the future of the protocol they’ve invested in. Let’s talk about the future of DRIP.
Rumours have abounded as to additional use-cases, utilities and partnerships that Forex Shark (DRIP founder) has hinted in his DAO group. I don’t presume to know the ins and outs of those discussions, but let me list what I’ve heard going around the community (whether true or not):
- Lottery
- Scratchcards
- Lending
- NFT battle game (Solana)
- Metaverse integration partnership
- Cross-chain ETH/BTC NFT utility partnership
- Cross-chain bridge
- DRIP UI (new)
- Multi Dex
- Treasury
- Casino (BetFury)
- NFT marketplace (Hip hop & rappers)
These are just some of the rumours circulating about the upcoming roadmap for DRIP! If any of these are true begin to come to fruition, then I see a very busy future for the DRIP development team and a bright future for the protocol.
To those who are consumed with FUD, please consider the future of DRIP and give it some thought before emotionally claiming and selling your DRIP assets away. Many of these utilities will drive a greater adoption across the crypto community, bring a greater awareness of DRIP (as a currency), accelerate the DRIP user base and bring in a ton of new capital, thereby creating a supply shock and driving the price back up.
If you know of anyone who is seriously taken hold by FUD, share with them this article. I hope they reconsider. DRIP has a future beyond the “right now”, beyond this bear market. I hope to see you on the other side.
If you want to chat further on “all-things” DRIP, consider visiting my Telegram channel.
DRIP Reservoir — https://t.me/dripreservoir
If you want a DRIP buddy, consider using my address.
DRIP buddy — 0x91098AE2A2Edb12803c8Ec81805d86e32BfB39a7
Talk soon!
